THE INVESTMENT APPROACH OF CALVIN TAN
BONIA HAS A DEFENSIVE MOAT : Why Warren Buffet & BEN GRAHAM like MOATS (Calvin Tan Research)
calvintaneng
Publish date: Sun, 04 Feb 2018, 03:04 PM
calvintaneng
0 1,841
Hi Guys,
I have An Investment Approach I which I would like to all.
I have An Investment Approach I which I would like to all.
Dear Fellow Investors of i3 Forum
Back of Ben Graham Fundamental Investing is THE CONCEPT CALLED MARGIN OF SAFETY. And This Is Also Warren Buffet's Most Important Criteria when he said
Rule No. 1
Never to lose money
Rule No. 2 is to remember Rule No 1
NEVER TO LOSE MONEY!!
SO THEY BOTH NEED MOATS OR MARGIN OF SAFETY IN A COMPANY.
What is a Moat?
A moat is a body of water surrounding a castle in ancient times
It means a line of defense against danger from invaders or wild animals
SO MOAT = MARGIN OF SAFETY
ALL FUNDAMENTAL VALUE INVESTORS FROM BEN GRAHAM TO WARREN BUFFET WANT A MOAT
These Are The Moats of BONIA
1) BONIA HAS AN ESTABLISHED BRAND NAME.
2) BONIA ASSETS ARE IN GOOD AREAS PRIME CITIES (Not Ulu Kampungs)
3) THE ASSETS ARE STILL AT OLD BOOK VALUE. IF REVALUED BONIA TRUE NTA WILL BE MORE THAN RM1.00. AND THAT SHOWS BONIA IS SELLING AT MORE THAN 50% DISCOUNT TO NTA
4) MOST OF BONIA ASSETS ARE TENANTED OUT FOR INCOME
5) PRICE OF BONIA HAS FALLEN FROM RM2.00 (PRIVATISATION PRICE) TO A MERE 48 SEN. LAST TIME OWNER WANTED TO PRIVATISE SOUTHER STEEL AT RM2.20 (UNSUCCESSFUL) & SSTEEL FELL BELOW 95 SEN WHEN CALVIN CALLED FOR A BUY. NOW LIKE MASTEEL & PRESTAR -- SSTEEL ALSO UP MORE THAN 100% (SO DON'T CHASE)
6) BONIA BOSS BOUGHT BONIA FROM OPEN MARKETS FROM 99 SEN TO 56 SEN. SO FAR STILL IN ACCUMULATION MODE. WARREN BUFFET LIKES OWNERS WHO BUY BACK SHARES WITH OWN MONIES
7) RECENTLY OTHER INSIDERS ALSO BUYING BONIA AT 50 SEN. AND SBB (Share Buy Back) ALSO AT 50 SEN
8) TOP OWNERS OF BONIA ARE HOLDING TIGHTLY. AMONG THOSE ARE DBS BANK OF SINGAPORE, PUBLIC FUND OF MALAYSIA AND OTHER TOP FUNDS & INSURANCE COMPANIES AS WELL
9) BONIA IS A POSSIBLE CANDIDATE FOR PRIVATISATION FOR ITS ASSETS JUST LIKE WANGZNG, THESTORE, KULIM, TMAKMUR, WEIDA & OTHERS
10) AT 48 SEN WITH ALL FAVOURABLE FACTORS OF DEEP DISCOUNT (OVERSOLD), HIGH NTA, QUALITY SHAREHOLDERS, INSIDERS BUYING SIGNAL, STRONG RINGGIT GOOD FOR INGREDIENT IMPORTS (LIKE NESTLE), POSSIBLE INFLUX OF CHINA TOURISTS BONIA IS AN OUT RIGHT BUY!
SO DON'T MISS THE BOTTOM
NOW IS THE TIME!!!
BEST REGARDS & KONG HEI FATT CHOY
Calvin Tan Research, Singapore
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Discussions
Be the first to like this. Showing 17 of 17 comments
See Jaks at 40 sen was oversold on Dec 16 2014
EVEN AFTER POSTING JAKS OVERSOLD AT 40 SEN ON DEC 16 2014 JAKS EVEN CRASHED IN HORROR TO A LOW OF 38.5 SEN
HAHA!!
WHO BOUGHT JAKS AT 38.5 SEN?
NOW IF THERE IS ANY FURTHER SELL DOWN TOMORROW CALVIN THE LION HEART WITH HAND OF STEEL WILL BUY MORE!!!
2018-02-04 18:15
datuk calvin,u tell kyy buy bonia lo then maybe can become like jaks.....haha
2018-02-04 18:16
I noticed bonia has been very very weak lately.Could it be due to now it's quite highly geared?In 1980's bonia is known for it's hangbags but it has clothing and shoes in it's wings.Their shoes still look impressive but not their clothings.Perhaps their spread wings in CHina not doing well?
2018-02-04 18:22
1st quarter results not good,if 2nd quarter worst then the price might fall further
2018-02-04 18:25
beso
i noticed that you are besong with most counters except asia file.
Just a kind reminder that asia file might file for bankruptcy one day due to e-filing.
Some day all commerce will be e-commerce, all books turned to e-books, even govt turns into e-govt
So asia file?
E-FILE LOH!!!
2018-02-04 18:27
YES
JAKS WAS 40 SEN NOBODY WANTED
JAKS OVER RM1.00 SUPER STOCK PUSHER APPEARED?
PRESTAR AT 46 SEN, MASTEEL 66 SEN AND RCECAP 27.5 SEN NOBODY BOTHERED?
Now all up and other "EXPERTS" APPEARED?
DUTALAND AT 39.5 SEN WHERE WERE SULTAN APOLLOANG
DUTALAND NOW NEAR 60 SEN WHY YOU SO BULLISH AH!!!
2018-02-04 18:31
Anne
If you check carefully results is really ok
There is extra Rm15 millions from increased receivables & stocking of inventories for upcoming Hari Raya Sales & others
And borrowings are backed by PPE & Investment properties of Rm200 millions. Last 2 years BONIA invested Rm10 millions in 3 assets in Indonesia. So Cash is employed for expansion. And BONIA still has a healthy CASH BUFFER Of Rm76 MILLIONS
Overall BONIA has a history of Retained Profits amounting to Rm219 Millions
NOT INCLUDED IS ITS INVESTMENTS IN REAL ESTATES WHICH HAVE APPRECIATED EVEN MORE!
2018-02-04 18:54
until the end of the world, Tan Eng will continue to tell us his JAKS story. at least once a day. but nvr mentioned Perisai. even once.
2018-02-04 18:56
And these are the POSITIVE FUNDAMENTALS AHEAD OF BONIA
1) RINGGIT RISE WILL HELP BONIA BOTTOM LINE
It imports stuff like leather from abroad & sell to Malaysia (So people who only focus on Nestle, F&N and others have overlooked BONIA
2) Rise of Crude Oil will enable Govt to pull back taxes - so it will help Consumers in Malaysia
3) China Tourists in ever increasing numbers are visiting Malaysia. They have discovered Old Town Coffee. It is only a matter of time they will also turn to BONIA. BONIA has a market of over 1 billions in China. Another 1 billion market in India. So BONIA has a bright future as the Market out there is HUGE
2018-02-04 18:59
And these are the POSITIVE FUNDAMENTALS AHEAD OF BONIA
1) RINGGIT RISE WILL HELP BONIA BOTTOM LINE
It imports stuff like leather from abroad & sell to Malaysia (So people who only focus on Nestle, F&N and others have overlooked BONIA
2) Rise of Crude Oil will enable Govt to pull back taxes - so it will help Consumers in Malaysia
3) China Tourists in ever increasing numbers are visiting Malaysia. They have discovered Old Town Coffee. It is only a matter of time they will also turn to BONIA. BONIA has a market of over 1 billions in China. Another 1 billion market in India. So BONIA has a bright future as the Market out there is HUGE
2018-02-04 18:59
Posted by Patron > Feb 4, 2018 06:56 PM | Report Abuse
until the end of the world, Tan Eng will continue to tell us his JAKS story. at least once a day. but nvr mentioned Perisai. even once.
Yes ah
I have also not repeated about WASEONG which gone up 100% from 73 sen to Rm1.46. What about Kulim which was taken private? And Pantech which also gone up?
Why you are so concerned with Perisai
Remember Sifu Peter Lynch's words
DIVERSIFY INTO AT LEAST 10 STOCKS
IF JUST TWO OR THREE ARE 2 to 10 BAGGARS (THAT IS, A STOCK GOING UP 200% to 1,000%) they will more than cover any which go bankrupt
The maximum loss of one stock is 100%. So far Perisai has not gone bankrupt yet while Jaks already up 300% as well as PADINI (Up 200%)
AND THIS BONIA EXPECTED TO BE ANOTHER PADINI
So you better DON'T MISS IT!!
2018-02-04 19:05
Don't listen to this shit
You go to shopping malls ....you see Bonia got customers ? Got sales ??....NO
compare with Padini which is queue in cashier very long
Future prospect is not good ....economy not good and yet , Bonia still sell its products so expensive
Who want buy
Also the insiders have been disposing since Oct to Nov
No reason to buy or hold ......if you said price is lower than NTA then you is stupid
Future profits not good , how high NTA also no use
2018-02-04 20:12
Haha!
Yes!
I do see shoppers in Bonia Singapore Jurong Point
They shifted from Level One to Ground Level where the Foot fall is heaviest!
BONIA need only sell One Article when Padini must sell fifty to a hundred
SO BONIA IS A HIGH VALUE HIGH PROFIT COMPANY.
Do you also know BONIA stall is smaller & fewer staff compared to PADINI?
Insiders disposed above 65 sen
BUT LATEST IS THIS
INSIDER BUYING AT 50 SEN
See
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5628645
2018-02-04 20:29
Future Profit will follow Nestle being importer & selling local
1) RINGGIT RISE WILL HELP BONIA BOTTOM LINE
It imports stuff like leather from abroad & sell to Malaysia (So people who only focus on Nestle, F&N and others have overlooked BONIA
2) Rise of Crude Oil will enable Govt to pull back taxes - so it will help Consumers in Malaysia
3) China Tourists in ever increasing numbers are visiting Malaysia. They have discovered Old Town Coffee. It is only a matter of time they will also turn to BONIA. BONIA has a market of over 1 billions in China. Another 1 billion market in India. So BONIA has a bright future as the Market out there is HUGE
2018-02-04 20:30
See got PROOF
Passengers spending in MAHB was Rm1 Billions for 2017 or up 24%
https://www.nst.com.my/business/2018/02/331326/passengers-spent-rm1bil-mahb-airports-2017
So with Increasing Tourists from China PLUS Higher Profit BONIA OUTLETS IN AIRPORTS & JPO SURE TO MAKE MORE THIS YEAR!!!
2018-02-04 20:33
WHOA!
SO CHEAP!
BUYING BONIA NOW IS LIKE BUYING JAKS AT THE LOWEST 38.5 SEN
JAKS AT 38.5 SEN WAS THE ALL TIME LOW!!
SO BONIA IS NOW AT ALL TIME LOW!!!
ALSO LIKE BUYING PADINI BELOW RM1.50!!!
2018-02-06 09:58
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beso
2moro will be even oversold， don't listen to this nonsense
2018-02-04 18:04